Mililani Real Estate Moving Fast

By Jenny Quill

Published: 2010.12.16 01:31 PM

This Mililani REO was a steal at $424,000.

I recently wrote about how the housing market in Mililani is heating up. Well-priced properties in the area are moving at a steady pace, and this REO (real estate owned, or foreclosed) property is a perfect example.

According to Prudential Locations listing agent and REO specialist Lotta Kagell, the four-bedroom, two-bath property was on the market for a brief 10 days (it’s currently in escrow), and had more than 30 showings within the first few days of its initial listing. “This one was priced so low,” says Kagell. “And it moved really fast.”

According to the Honolulu Board of Realtors, the median sales price for a single-family home in Mililani last month was $603,000, making this REO, which was listed at $424,000, a serious bargain. Thus far this year, the median number of days in which a home has remained on the market until it sells in Mililani has decreased by more than 30 percent. “Those homes that have come on the market this past month have been going pretty fast,” says Kagell.

About Our Writers

Honolulu Real Estate focuses on the Hawai‘i housing market, condos and homes for sale, Hawai‘i rentals and general news about real estate in Hawai‘i. It also includes stories on apartment living, home decor and profiles.

Melissa Chang graduated from the University of Hawai‘i with a degree in journalism. She has been blogging about food and travel since 2007. She works primarily in social media, so you can find her online @Melissa808 on Twitter and Instagram.

Jaymes Song is a real estate agent at Better Homes and Gardens Real Estate in Kāhala. Jaymes is in the top 1.5 percent of Better Homes agents nationwide. He was voted “Best in Real Estate” in 2015 and 2014 by HONOLULU Magazine readers. Previously, Jaymes was at The Orange County Register, Honolulu Star-Bulletin and rose through the ranks to overseeing news and operations for AP in Hawai‘i and the Pacific Rim. Jaymes lives in the Portlock area and loves his real full-time job as a dad to two curious kids.